Volume 17, No 3, 2010, P. 61-83
A. V. Sidorov
Equilibria in the economy model with overlapping generations of investors
In the paper, the study of the economy model with endogeneous investment is continued in the situation when investment process is time-unbounded and investors (alias consumers) form overlapping generations. As opposed to previously considered cases, the consumption space is infinite dimensional, though for each specified generation the accessible goods form a finite set. Existence of an equilibrium price trajectory as well as an equilibrium inter-temporal allocation is proved, which are obtained as limits of convergent sequences in the weak topology of infinite dimensional real space.
Keywords: competitive equilibrium, overlapping generations, endogeneous investment, discounted value, weak convergence.
Sidorov Alexander Vasil’evich 1,2
1. S. L. Sobolev Institute of Mathematics, SB RAS,
4 Acad. Koptyug Ave., 630090 Novosibirsk, Russia
Novosibirsk State University,
2 Pirogov St., 630090 Novosibirsk, Russia